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Goldman Sachs warns of rising ship attacks and oil at $120
Goldman Sachs has warned that escalating attacks on ships and increasing shipping disruptions in the Middle East could drive oil prices up to around $120 per barrel, especially if the situation worsens and tensions between the United States and Iran over the Strait of Hormuz escalate. Should regional exports return to their normal levels, the bank expects oil prices to decline to approximately $80 per barrel. It also noted that natural gas and diesel could be more significantly affected than crude oil due to ongoing geopolitical risks and rising energy prices.
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